<PAGE>   1

                               POWER OF ATTORNEY

     The undersigned, being a director or officer or both of Lease Auto
Receivables, Inc., hereby constitutes and appoints Gerald E. Gross, David C.
Walker and Robert L. Schwartz, and each of them, his true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for him and in his name, place and stead, in any and all
capacities (including his capacity as director and/or officer of Lease Auto
Receivables, Inc.), to sign an appropriate Registration Statement covering
securities and any or all amendments (including post-effective amendments) to
such Registration Statement, and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents or any of them, or their
or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.

     Pursuant to the requirements of the Securities Act of 1933, this power of
attorney has been executed by the undersigned on December 22, 1999.

<TABLE>
<S>                                       <C>
/s/ PAUL D. BULL                               /s/ GERALD E. GROSS
----------------------------------------  ----------------------------------------
Paul D. Bull                              Gerald E. Gross

     /s/ RICHARD E. DAMMAN                     /s/ WILLIAM F. MUIR
----------------------------------------  ----------------------------------------
Richard E. Damman                         William F. Muir

     /s/ GUNTER DUFEY                          /s/ JEROME B. VAN ORMAN, JR.
----------------------------------------  ----------------------------------------
Gunter Dufey                              Jerome B. Van Orman, Jr.

     /s/ JOHN D. FINNEGAN                      /s/ DAVID C. WALKER
----------------------------------------  ----------------------------------------
John D. Finnegan                          David C. Walker

     /s/ JOHN D. GIBSON
----------------------------------------
John D. Gibson
</TABLE>
<PAGE>   2

                               POWER OF ATTORNEY

     The undersigned, being a director or officer or both of Capital Auto
Receivables, Inc., hereby constitutes and appoints Gerald E. Gross, David C.
Walker and Robert L. Schwartz, and each of them, his true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, for him and in his name, place and stead, in any and all
capacities (including his capacity as director and/or officer of Wholesale Auto
Receivables Corporation), to sign a Registration Statement on Form S-3 covering
Asset Backed Notes and Certificates to be sold by Capital Auto Receivables, Inc.
and any or all amendments (including post-effective amendments) to such
Registration Statement, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all
intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents or any of them, or their
or his substitute or substitutes, may lawfully do or cause to be done by virtue
hereof.

     Pursuant to the requirements of the Securities Act of 1933, this power of
attorney has been executed by the undersigned on December 22, 1999.

<TABLE>
<S>                                       <C>

/s/ PAUL D. BULL                               /s/ WILLIAM F. MUIR
----------------------------------------  ----------------------------------------
Paul D. Bull                              William F. Muir

     /s/ RICHARD E. DAMMAN                     /s/ JOHN RAKOLTA, JR.
----------------------------------------  ----------------------------------------
Richard E. Damman                         John Rakolta, Jr.

     /s/ JOHN D. FINNEGAN                      /s/ JEROME B. VAN ORMAN, JR.
----------------------------------------  ----------------------------------------
John D. Finnegan                          Jerome B. Van Orman, Jr.

     /s/ JOHN D. GIBSON                        /s/ DAVID C. WALKER
----------------------------------------  ----------------------------------------
John D. Gibson                            David C. Walker
     /s/ GERALD E. GROSS
----------------------------------------
Gerald E. Gross
</TABLE>